Another economic report and another warning about the reliance of the Irish exchequer on potentially volatile corporate tax revenues. It is rather in its working through of what losses on this scale might mean for the economy. The IFAC estimated that between €2 billion and €6 billion of the corporate tax revenue could be considered difficult to explain by economic fundamentals. That said, the rapid pace of corporate tax revenue growth and the reliance on the fortunes of around 10 companies to contribute almost half of the total does create an obvious danger. From what we know we simply can’t predict what might happenThe calculations by the ESRI demonstrate how serious this could be.

Source: The Irish Times December 12, 2019 06:00 UTC